July 12, 2017
The new owners of the Sunshine Theatre borrowed $29.4 million to buy and rehabilitate the historic cinema on 139 E. Houston St., on the border where Manhattan’s East Village meets SoHo and the Lower East Side.
“This is a prime retail location with excellent frontage on Houston Street,” said Jonathan Schwartz, managing director for JLL Capital Markets, which arranged the financing. “The sponsors are experienced in creating new, engaging spaces with buildings that need to be updated. This financing allows them to execute their vision with a rare, value-add property in a highly visible area.”
East End Capital and K Property bought the 29,200-square-foot building with a five-year loan from Acore Capital, which will give the borrower the flexibility they need to reposition the property.
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